By Katie Paul and Krystal Hu NEW YORK (Reuters) – Facebook owner Meta is testing its first in-house chip for training artificial intelligence systems, a key milestone as it moves to design more of its own custom silicon and reduce reliance on external suppliers like Nvidia, two sources told Reuters. The world’s biggest social media…
By Svea Herbst-Bayliss and Saeed Azhar NEW YORK (Reuters) – Bank of America’s latest cull has eliminated 150 jobs of junior bankers at its investment bank, two sources familiar with the matter told Reuters on Tuesday. The second-largest U.S. lender will offer the vast majority of junior bankers, which include associates and analysts, other roles…
📅 Market Outlook: Stagflation Risks in 2025 Wall Street is bracing for a potential economic scenario that most investors haven’t seen in decades: stagflation. A toxic mix of high inflation, slow economic growth, and rising unemployment, stagflation is one of the most difficult environments for markets. It’s a nightmare for the Fed, a headache for policymakers,…
By Aref Mohammed BASRA, Iraq (Reuters) – After the U.S. moved to block Iraq’s imports of electricity from Iran, Baghdad is looking to Qatar and Oman as possible options should Washington do the same regarding their trade in gas, the boss of Iraq’s South Gas Company said on Monday. U.S. President Donald Trump’s administration on…
By Jonathan Stempel NEW YORK (Reuters) -Wells Fargo sued JPMorgan Chase on Monday to recover losses for investors in a $481 million commercial real estate loan that was allegedly based on a fraudulently inflated financial metric. The lawsuit pits the fourth-largest U.S. bank against the largest, with Wells Fargo accusing JPMorgan of turning a blind…
By Echo Wang NEW YORK (Reuters) -CoreWeave, an artificial intelligence startup backed by Nvidia, has signed a five-year contract worth $11.9 billion with OpenAI to provide cloud computing services ahead of its hotly anticipated stock market launch, people familiar with the matter told Reuters on Monday. The deal will give OpenAI a stake in CoreWeave,…
By Shariq Khan and Nicole Jao NEW YORK (Reuters) – At least four U.S. gasoline marketers are preparing legal and regulatory challenges to the Colonial Pipeline over proposed changes in fuel shipping terms which the companies say will hurt their margins and drive up fuel prices at the pump, sources familiar with the discussions said….
By Olena Harmash KYIV (Reuters) – President Volodymyr Zelenskiy’s approval rating has risen by 10 percentage points since his White House spat with U.S. President Donald Trump, a poll by a leading Ukrainian pollster showed on Friday. The poll by the Kyiv International Institute of Sociology (KIIS) showed that 67% of respondents trusted Zelenskiy in…
FRANKFURT (Reuters) – Porsche SE, Volkswagen’s largest shareholder, expects a 2024 loss after tax of around 20 billion euros ($21.7 billion), it said on Friday, citing previously disclosed impairments on its holding in Europe’s top carmaker. The impairments, first announced in December, reflect a substantial loss in both Volkswagen’s and Porsche AG’s market value. Porsche…
By Stephen Nellis (Reuters) – Some artificial intelligence improvements to Apple’s voice assistant Siri will be delayed until 2026, the company said on Friday. In a statement, Apple said it has “been working on a more personalized Siri, giving it more awareness of your personal context, as well as the ability to take action for…
